Bitcoin (BTC) has recently witnessed a noteworthy milestone in terms of on-chain liveliness. Specifically, the on-chain liveliness of Bitcoin (BTC) has reached a multi-year peak level. As per the data from Glassnode, this new high denotes a pivotal momentum in Bitcoin’s present market cycle. At the same time, the consolidation of BTC around the $89K mark is also pointing toward a likely bullish momentum.
Bitcoin ($BTC) Activity Surges as Liveliness Hits Multi-Year High
The on-chain data reveals that Bitcoin’s (BTC) on-chain liveliness indicator has achieved a new multi-year high mark. Additionally, the respective indicator’s 365-day and 30-day simple moving averages (SMAs) are also trending upward. This reflects increased coin activity and growing investor engagement.
At the same time, this surge highlights a robust demand setting while also hinting at the continuation of Bitcoin’s bull cycle while it is consolidating around $89K. In this respect, the significant BTC accumulation around the $89,000 reportedly displays the early signs of a potentially massive breakout.
Reactivated $BTC Sparks Fresh Investor Confidence Boost
The liveliness indicator discloses a compelling trend as the long-dormant coins are eventually re-entering the market circulation on a huge scale. Dissimilar to the rally of 2017, including thousands of dormant coins, the current rally is witnessing billions of dollars in formerly inactive BTC coins become active again.
According to Glassnode, Bitcoin (BTC) is experiencing a notable surge in short-term activity in comparison with long-term averages. This serves as a classic sign of growing investor confidence. Moreover, the dormant coins’ reactivation may also pave the way for a powerful bull run. In the meantime, the investors and market onlookers are keenly watching for the possible market shift as 2025 comes to a close.